...Operations Management Group Assignment 2 Scientific Glass, Inc : Inventory Management Group: Leonhard Fricke Paul Hannemann Ioannis Gounaris Shruti Vasudev Monday, 14th December 2015 Executive Summary The Scientific Glass, Inc (SG) is a midsized company in the specialized glassware industry producing for and supplying to research facilities and specialized laboratories in its market regions; North America, Europe, Asia Pacific and rest of the world. The company is facing an increase in inventory level balances with too much capital tied up in inventory preventing it from using its capital towards international expansion. Evaluating other options on the basis of effects of SG's previous attempts at correcting inventory management and the company information provided is a step in the right direction for curbing these major problems faced by SG. As planned SG is moving towards expansion in 2010 and bearing in mind a 20% growth in business SG will need external funding which has been calculated as $14.7 Million. This sum total was drawn apon by using the financial data from 2008 and 2009 to prepare a forecast for net sales, inventory and owner's equity in 2010 and then calculating planned investment expenses and hence external funding requirements using assets, liabilities and retained earnings forecasts. In order to prepare this forecast several assumptions were made, namely; percentage of interest expense and taxes have been averaged over...
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...Analysis Of Scientific Glass Inventory Management Finance EssayAnalysis Of Scientific Glass Inventory Management Finance Essay The products of Scientific Glass include customized and specialized glassware for a variety of organizations such as pharmaceutical companies, hospitals, research labs, quality-control sites and testing facilities. By January 2010, a substantial increase in their inventory balances tied up the capital needed for investment for expansion. The debt-to-capital ratio exceeded the 40% target preventing the company to use their capital in other areas. Also the shipping costs were rising, competitive pressures were speeding up, and certain markets in North America and Europe were becoming saturated which underscored the necessity for capital investment for expanding market opportunities in Latin America and Asia. Moreover, expanding warehousing network increased the inventory levels along with costs, documentation complexities and errors. The company hired a new Manager of Inventory Planning, Ava Beane, to come up with an effective plan to manage SG’ s inventory without requiring a large capital investment. In order to finance operations in year 2010, SG requires an external funding of $53.8 million. These expenses would further limit the company to use their existing capital in other areas such as research and development and expanding to international markets. To improve customer service levels, SG had increased the target customer fill rate to 99% and added...
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...4208 REV: JANUARY 4, 2011 STEVEN C. WHEELWRIGHT WILLIAM SCHMIDT Scientific Glass, Inc.: Inventory Management In January 2010, Ava Beane, the newly hired Manager of Inventory Planning for Scientific Glass (SG), contemplated the critical nature of her first big project with the company. During her interviews for the job, several executives had told her very directly that the company’s need for a more effective way to manage its inventory was urgent. At the time, Beane had felt confident she could address the problem quickly and meaningfully. Now on the job for several weeks, Beane was gaining a fuller appreciation of the difficulties of the task. Until recently, SG had treated inventory management as largely an afterthought. As a fastgrowing organization with annual sales of $86 million, the company historically emphasized the twin goals of continued sales growth and high customer satisfaction. During the past year, however, executives at the company had identified a disturbing trend: Inventory balances were increasing substantially, which tied up extra capital the company needed to fund its growing operations. In recent years the company exceeded its target debt to total capital ratio of 40%. If this trend persisted, it could jeopardize SG’s ability to fund a planned expansion into new international markets. Beane was given four weeks to come up with recommendations on how to make the inventory plan support the company’s sales and customer-service objectives without...
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...Scientific Glass, Inc.: Inventory Management Executive Summary Scientific Glass (SG) provides specialized glassware for a variety of organizations such as pharmaceutical companies, hospitals, research labs, quality-control sites and testing facilities. As of January 2010, there was a substantial increase in their inventory balances that tied up the capital necessary for further investment needed for expansion. The debt-to-capital ratio surpassed the target of 40% preventing the company to use their capital in other areas. In addition, the shipping costs were rising, competitive pressures were accelerating, and certain markets in North America and Europe were becoming saturated which underscored the necessity for capital investment for expanding market opportunities in Latin America and Asia. Moreover, expanding warehousing network increased the inventory levels along with costs, documentation complexities and errors. The company hired a new Manager of Inventory Planning, Ava Beane, to come up with an effective plan to manage SG’s inventory without requiring a large capital investment. In order to finance operations in year 2010, SG requires an external funding of $53.8 million (Exhibit 1). These expenses would further limit the company to use their existing capital in other areas such as research and development and expanding to international markets. To improve customer service levels, SG had increased the target customer fill rate to 99% and added six more leased warehouses...
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...5 WORKING IN THE NEW ECONOMY 6 Globalization 6 Intellectual Capital 6 Knowledge worker 7 Diversity 7 Technology 7 Workforce diversity 8 Discrimination 8 Ethics 8 Prejudice 8 The Glass ceiling effect 9 Corporate governance 9 Career (core worker, contract worker, part-time worker) 10 ORGANZATIONS IN THE NEW WORKPLACE 11 Critical survival skills for the new workplace 11 Organization 12 ORGANZATIONS AS SYSTEMS 12 Open systems 12 ORGANIZATIONAL PERFORMANCE 12 Productivity 12 Performance effectiveness 13 Performance efficiency 13 CHANGING NATURE OF ORGANIZATIONS 13 7 changes 14 Total quality management (TQM) 14 MANAGERS IN THE NEW WORKPLACE 15 Definition of manager 15 LEVELS OF MANAGERS 15 Top manager 16 Middle manager 16 Project manager 16 Team leader or supervisor 16 Nine responsibilities of team leader 17 TYPES OF MANAGERS 17 Administrator 17 Functional manager 17 General manager 17 Line manager 17 Staff manager 17 MANAGERIAL PERFORMANCE 17 Quality of work life 17 Accountability 18 CHANGING NATURE OF MANAGERIAL WORK 18 Upside-down pyramid 19 THE MANAGEMENT PROCESS 19 FUNCTUONS OF MANAGEMENT (Planning, Leading, Controlling, Organizing) 19 Management 20 Leading 20 Organizing 20 Planning 21 Controlling 21 MANAGERIAL ACTIVITIVES AND ROLES 21 Mintzberg’s 10 managerial roles ( Inter-Info-Decisional) 22. Realities of managerial work 22 MANAGERIAL AGENDAS AND NETWORKING 22 ...
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...some of the causes and problems within Scientific Glass, Inc was their unstable inventory management. SG only considered their inventory management as an afterthought. Ava Beane was newly hired to fix these problems. Part of the problem with SG’s growing capital was that inventory balances were increasing and the company needed to fund its growing operations. The company is losing on money and customers due to its unstable system for inventory management. Another problem was that each warehouse responded to the demand in its region independent of all the other warehouses. I believe that the sales cycle was too long to meet the orders of the customers. The cycle ranged from 3 to 6 months, in my opinion I believe that this is too long. Another issue was that the company decided to only maintain its distribution partners in Europe and Asia Pacific region, this lead to a difficulty associated with managing an overseas sales and distribution function. I believe that the causes to these problems were that SG incurred costs of 10% of the gross margin for any product a customer ordered t0hat was not available in the inventory of that region’s warehouse. Part of the inventory problems involved sales people taking inventory home and keeping some in their cars. No employee should participate in this as it could lead to other ethical and moral problems. To help manage the flow of inventory SG used two computer systems to manage the flow of inventory. Although this is a good idea I believe...
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...Numbers 4 functions of management 19 10 managerial roles 21 8 attributes of performance excellence 49 5 ingredients of learning org 50 21st century manager 51 2 dimensions of environmental uncertainty 91 4 absolutes of management for total quality control 94 4 steps in control process 202 4 criteria of a good performance obj 207 A Administrators 17 Agenda setting 23 Administrative principles (Henri Fayol) 37 Administrative principles (Mary Parker) 37,38 Argyris’s theory of adult personality 43 Autonomy and entrepreneurship (att of perform excel) 49 Agile manufacturing 95 Absence of prejudice and discrimination (Mul org) 100 Afirmative action (Mana diver) 104 Action orientation (Plan benefits) 193 Advantage oriented (Plan benefits) 193 After-action review (controlling) 201 Asset management (info + finan control) 203 Area structures 252 Authority (dele + empower) 263 Accountability (dele + empower) 263 Authority and responsibility principle (dele + empower) 263 Advisory authority (org) 265 B Belief in human capital 13 Bureaucratic organization (Max Weber) 38 Bias toward action (att of perform excel) 49 Biculturalism 103 Benefits of planning 193 Budget 197 Benchmarking 199 Best practices 199 Benefit of MBO 207 Break-even analysis 209 Benefits of functional structures 250 Boundaryless organizations 258 C Corporate governance 9 Careers 9 Critical skills...
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...city situated on the central part of Romania. The hotel has 4 stars, and is regarded as one of the greatest hotels in the city, the type is one resort,because it is a seasonal hotel. The Hotel has 3 floors, with 150 rooms, and 5 elevators. This hotel is famous for its services that the hotel offers in the Housekeeping department. The following housekeeping areas in the hotel are: the front desk area, lobby area, game rooms, exercise area, management offices, and public restrooms.The duties in the hotel for the housekeeping department are room inspection,training for the entire staff, inventory control ( linens, cleaning supplies,furniture, ),housekeeping reports and in-house and out-house laundry. In each room, every maid has a 30 minutes for cleaning the room, and there are 3 shifts / day in which the maids has to clean the room. (every floor has at least 10 maids). The laundry in the hotel is one in-house, and one of the reasons why the hotel is dotated with a in-house laundry is that the GM provides greater control of where the inventory will be laundred. What housekeeping meaning? Housekeeping is the act of cleaning the rooms and furnishings of a home. It is one of the many chores included in the term housework. Housecleaning includes activities such as disposing of rubbish, cleaning dirty surfaces, dusting and vacuuming. It may also involve some outdoor chores, such as removing leaves from rain gutters, washing windows and sweeping doormats. The term is often used also...
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...Table of content 1. Introduction 1 1.1. Google Inc. 1 1.2. Google Glass 1 2. Operations management & strategic planning 2 2.1. Operations management 2 2.2. Strategic planning 3 2.3. Link between operations management and strategic planning 3 3. Systems Diagram 4 3.1. Systems theory 4 4. Cost Minimization and quality maximization 5 4.1. Cost minimization 5 4.2. Quality maximization 6 4.3. Cost minimization and quality maximization at Google 6 5. The five performance objectives of operations management 7 5.1. The five performance objectives 7 5.2. Significance of the five performance objectives 8 6. Network planning and critical path analysis 9 6.1. Network planning 9 6.2. Critical path analysis 10 6.3. Evaluation of network planning and critical path analysis for Glass 10 7. Operational planning and control 11 7.1. Nature of operational planning and control 11 7.2. Need for Operational Planning and Control 13 8. Operational outcomes 14 9. Quality 15 9.1. Quality Defined 15 9.2. Quality Maintained 15 9.3. Quality for Google Inc. 17 Bibliography 19 1. Introduction 1.1. Google Inc. “Organise the world’s information and make it universally accessible and useful.” is Google’s mission statement (http://www.google.com). Google Inc. is a United States based international technology corporation which specialises in Internet oriented services and products. Google Inc. was founded in 1998...
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...YAKULT: A Probiotic Drink The onset of lifestyle-related diseases because of dietary habits, poor exercise, alcohol intake, stress and the like, is an issue Yakult is trying to prevent. The research and development team of Yakult put its efforts in the prevention of lifestyle-related diseases by promoting foods with beneficial materials and based on scientific evidence. Yakult is a probiotic drink which improves digestion and helps build immunity. Yakult is derived from the word "Jahurto", meaning "yoghurt" in Esperanto, a constructed international auxiliary language. Yakult contains 6.5 billion beneficial bacteria which is Lactobacillus casei strain Shirota. The bacteria in Yakult are resistant to gastric juices and bile. These bacteria reach our intestines alive to balance the amount of good bacteria in the gut. Yakult is advised for daily consumption to improve intestinal health and immunity. Lactobacillus casei strain Shirota in Yakult was discovered by Dr. Minoru Shirota in 1930. More than 80 years of research backed Yakult to ensure safety and efficacy of this product. Scientific benefits of Yakult proved to: * Improve bowel movement and aid digestion * Maintain balance of good and bad bacteria * Reduce toxins in our body * Help build the immune system (reduce risk of infections) The term Probiotics is derived from probiosis— a symbiotic relationship between two organisms. It is a live microbial culture that beneficially affects the host animal (humans)...
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...Johan Ahmed RH-82 Nuzzat Salsabil RH-87 Shagufta Tasnim Nur RH-88 Anika Tabassum ZR- 98 Md. Abdullah Al- Zabir ZR 103 Manis Das ZR-108 Imrul Hasnat Shakil ZR-111 Mohammad Jishanur Rahman Rumi RH-118 Fabbiha Zahin ZR-122 Ahmed Istehad RH- 123 Sababa Tania Shiney ZR- 127 Ahmed Muntasir Mahin ZR- 128 Md. Al-Amin Institute of Business Administration, University of Dhaka 7 January 2016 Letter of Transmittal 7 January 2016 Dr. Muhammad Ziaulhaq Mamun Professor Institute of Business Administration University of Dhaka Sir: Subject: Submission of Term Paper With all due respect, we the students of section B of 21 st batch would like to submit our term paper as per your instructions for the course entitled Operations Management (P301). This report was based on the factory visit to the adhesive plant of Fast Group in Tejgaon. Information has been gathered mostly through face to face interview and according to your requirements. We have put in our best efforts to fulfill the criteria required by this term paper. We humbly request your acceptance of the submission of this term paper. Yours sincerely, ZR-65 Sazid Ahmad RH-118 Fabbiha Zahin RH-78 Afsin Ahmed ZR-122 Ahmed Istehad ZR- 79 Johan Ahmed RH- 123 Sababa Tania Shiney RH-82 Nuzzat Salsabil ZR- 127 Ahmed Muntasir Mahin RH-87 Shagufta Tasnim Nur ZR- 128 Md. Al-Amin RH-88 Anika Tabassum ZR- 98 Md. Abdullah Al- Zabir ZR 103 Manis Das ZR-108 Imrul Hasnat Shakil ZR-111 Mohammad...
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... stock control began to gain recognition as a result of the industrial revelation that swept the advance countries of America and Europe in the 1930s. The problem of stock control may be attributable to the failure, on the part of the top management officials, to give a deserved attention to the function of stores as well as their inability to employ the services of as well qualified stores officer to take charge of stores supervision and management. Added to this problem is the issue of the dearth of storage facilities and the habit of stores procedure violation by the top, the middle, and the junior cadre personnel’s in the organization. SIGNIFICANCE OF THE STUDY: The issue of management of stock is of vital importance to the success of any organization and is one of the serious determinants of the continuity and efficient productivity of the organization. As the study is significant because it is hoped that on the completion, the study will provide further insights into the understanding of stock control measures. The study will make an interesting contribution to the understanding of the general and specific effects of stores control in other utilities. Also, the study will further justify the need to strengthen management and control of stock with anticipated benefit in view. OBJECTIVES OF THE STUDY: There is also the...
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...[pic] Report on eramic Industry Ltd Course Code: F-401 Submitted by Yasir Bin Yousuf Roll :16-36 Department Of Finance Submitted to Hussain Ahmed Enamul Huda Lecturer Department of Finance University of Dhaka Date of submission 1 August, 201 Executive summary The ceramic industry is surprisingly not quite a new one in Bangladesh. It dates back to 1962. People Ceramic Industries Ltd (PCI) pioneered the manufacture of porcelain tableware in Bangladesh (Khandaker and Alamgir 2006). According to Bangladesh Ceramic Ware Manufacturers Association (BCWMA), there are approximately 40 ceramic manufacturers operating in this industry producing tableware, sanitary ware and tiles. The major ceramic companies in the industry are Monno ceramics, R.A.K ceramics, Shinepukur ceramics, Fu-wang ceramics, greatwall ceramics, Peoples and national ceramics etc; there remains other 31 companies. Over the years, the ceramic industry in Bangladesh has flourished immensely and has gained recognition throughout the worldQuality of products has helped Bangladesh to carve a niche in the global market; the manufacturers in this sector are taking risks while diversifying their designs into world-class standards. The close competitors of Bangladesh are China and India, but they mostly produce traditional items. Moreover, due to recent global financial crisis and rising labor cost, the developed countries are placing more orders to low-cost countries...
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...____ This thesis comprises 30 ECTS credits and is a compulsory part in the Master of Science with a Major in Industrial Engineering – Logistics, 120 ECTS credits Nr. 5/2009 _______________________________________________________________________ Warehousing in theory and practice A case study at ÖoB, Clas Ohlson, Stadium, Åhlens Mahesh Kumar Rajuldevi Ranjit Veeramachaneni Sridhar Kare Master Thesis Subject Category: Series and Number: Technology Industrial Engineering: Logistics, 17/2008 University College of Borås School of Engineering SE 501 90 BORÅS Telephone: +46 033 435 4640 Examiner: Supervisor: Date: Keywords: Göran Stjernman Göran Stjernman November, 2008 Warehousing, Warehouse management systems, Retail stores, Inventory, Labour management. ii Acknowledgements The present master’s thesis work represents the essence of our achievements during the two years of study in Industrial Engineering and Logistics programme at University College of Borås, Borås. During this period there have been many people who have inspired us throughout the study period. The thesis work is concluding part of our university degree in MSc. in Industrial Engineering and Logistics. This master’s thesis was written during autumn 2008. This period was very exciting and it was very valuable as it has given us very knowledgeable and practical experience for the theoretical subjects we have been studying. We wish to acknowledge the assistance of Göran Stjernman, our thesis...
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...Walmart Strategic Analysis of Wal-Mart Fan Yang Professor Richard Linowes MGMT-458-002H May 1, 2009 Yang 2 Executive Summary Wal-Mart is the biggest retailer in U.S. and also one of the biggest multinational companies in the world. It is well-known for its low-cost structure and has been doing very well despite of the current market instability. However, it still faces threats from competitors in the retail industry and has weaknesses to be improved in the future. To help Wal-Mart achieve greater success and sustain its competency, this paper will cover an all-rounded and detailed business analysis on Wal-Mart and the industry it is currently in. The analysis will touch on different perspectives, such as Wal-Mart’s strength, opportunities, weaknesses and threats. Moreover, a brief overview of the retail industry and Wal-Mart’s history are provided to facilitate a deeper and better understanding of the analysis on Wal-Mart. To help Wal-Mart better exploit its strength and opportunities and reduce threats and weaknesses, recommendations are provided for each of the four sections. I hope the recommendations will be carefully considered for proper implementation. Yang 3 Overview of Retail Industry The overall retail industry is currently experiencing a sale slowdown due to the widely spread economic crisis in US because consumers reduce their spending during weak economic time. According to an article on BusinessWeek, the real consumer spending declined by 3.7% in the...
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